The Federation of Indian Export Organisations (FIEO) has requested the central government to give a greater role for the states to impart a new dynamism to the country's export efforts. It called for separate state funds and incentives exclusively meant for export promotion.
Highlighting the grey areas in the recently announced Exim policy, FIEO called for the reduction of the transaction cost as well as cost of export credit for this purpose.
Addressing the fourth meeting of the southern region of FIEO, jointly organised by the Federation, Government of AP and Bulk Drug Manufacturers Association (BDMA) at Hyderabad on Wednesday, TPR Venkataraman, advisor, FIEO (SR) called for the need for focused export strategies based on select sectors like chemicals, agro-sectors and textiles.
He also felt that the government should have announced major initiatives for sustaining 20 per cent export growth based on the recognition that trade was not a residual activity but central to the process of the country's economic growth.
He highlighted the need for improving competitiveness by looking at a macro economic issues in a holistic manner and synergising FDI and industrialisation policies with trade as had been successfully done in China. Trade related infrastructure, export oriented FDI and focused strategies would be of critical importance in raising exports," he noted.
The federation also put a word of caution by saying that the 'policies must be properly implemented and delay in refund of duty paid under various schemes should be avoided' for the preparation of an export friendly atmosphere.
The FIEO was of the opinion that all 100 per cent exporting firms has to treated at par with 100 per cent EOUs.
Senior government officials, export promotion council members and the representatives of various trade and industry linked associations attended the review meeting. A presentation on Exim Policy Revision was carried out by M Gopinath, joint Director General of Foreign Trade, Chennai.
The Federation has already conducted similar interactive meets in Kochi, Chennai and Bangalore.